5 in 5 mins - June 03rd

1. Lalamove raised US$10M

Lalamove announced they are raised another US$10M in a round of funding led by MindWorks Ventures, bringing the company's total funding to US$30M.

Prior to this round of funding, Lalamove has successfully raised 2 rounds of fundings in 2015.

According to an official statement from lalamove, the funding will be used to expand throughout China and other South East Asia countries.

Hard work, discipline, passion and resilience - Aaron Pang, Head of Hong Kong Easyvan

2. Singapore government launches SME and startup-friendly loan

A government agency, SPRING Singapore, will provide unsecured working capital loan to small and medium enterprise in Singapore, SMEs can apply for loans up to S$300K. The scheme is expected to catalyze more than US$1.4 billion of loans. The loans come under the SME Working Capital Loan program announced by the government earlier this year.

3. Tesla model 3 owners have to pay for supercharge access

‘It will not be free long distance for life,’ Elon Musk says

Elon Mush announced on Tuesday that in order to make the economics work, Tesla would have to charge for use of the fast-charging system. The supercharge system allows customers to recharge the battery in under an hour while charing with normal chargers commonly takes more than 10 hours.

4. Instagram rolls out business tools

Instagram announced earlier this week that business will be able to upgrade their account to business profiles which offer features like a contact button as well as analytics on the performance of each post. This could be a great news for all marketers.

5. Mobile games need to be pre-approved before launching in China starting from July 1

If you want to launch your mobile game in China market, better do it now. The State Administration of Press, Publications, Radio, Film, and Television (SAPPRFT) is going to tighten their control on mobile gaming starting from July. All mobile games need to be submitted to SAPPRFT for pre-approval for at least 20 working days before being put online.